The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-04-25
THE STATE GAS BOOM.
Natural Gas Is Stimulating and Attracting
Manufacturers to Settle in Indiana.
The Bnom in and About Kokomo

The Bnom in and About Kokomo.
Kokomo Gazette Tribune.
Some of the heaviest manufacturing firms in
the country are heavy buyers of real estate. and
this is regarded by other capitalists as very sig
nifcant, for it doubtless indicates q determine
ton the part of these manufacturers soon
or later bring their business here. The wis
dom and business sagacity of this course IS ap-
parent to experienced men. They see why 1t is
smart for owners of large plants like Soldering,
of the Empire binder works, or Bookwalter, of
the Springfield engine works. to make their in
vestments in land before they move their works
OF Guild branch works in town for the reason that
the very bringing of such large industries would
of themselves greatly increase prices o. land for
miles around. Seiberling the great Akron man
nfacturer, already has large interests planted in
hokomo. He is a large stakeholder in the straw
board works, and has bought and paid for big
tract OF land joining the city limits.
Investors understand that this means some
thing; 1t means more manufactures at no dis
tant day, and they plant their ducats ac-
cordlnely Bookwalter, the engine man.. has
body of land ives. of town at
reasonable figure which he could not
have touched for twice the money after he had
brought a large industry here The straw board
works above referred to are rapidly erecting
their factory. comprising one-half mile of walls.
and the Eastern glass works which located on
Thursday at the junction. have gone to Chicago
TO purchase new plant for their works. Before
capacity of their works Another leading glass
man. who owns the largest window-glass factory
in the United States, arrived in town on Thurs
day afternoon, and is delighted with the outlook
for Kokomo. He has already beeen to Marion
and Muncie, but he proposes to locate at Kokomo
If suitable site be selected, and it will be.
The capacity of the plant that he will. establish
will, at the start, be two ten pot furnaces re-
curing the employment of 10 workmeu, two
thirds of whom will be skilled and highly paid
m all of
gentleman is rated by Bradstreets commercial
reports the owner of a quarter of million
dollars above all liabilities. and few minutes
conversation with him will satisfy any intelli-
gent man that he means business from the word
go. Other large manufacturing industries,
notably steel works. thresher and reaper works,
pillow factory. furniture factory, plate-giass
works. etc. negotiating with the citizens
committee for locations in this field.
Kokomo Gazette Tribune. Saturday.
The real-estate pot continues to boil with in
creasing vigor. The transactions are gettin E
larger and more numerous. In fact. everybody
realizes that we are in the midst, or rather the
ante-cham Der, of an unprecedented boom, and
they all are equally cOgnlzant of the fact that
the cause of it is unprecedented. The Sherman
syndicate have up to this writing invested over
800, 900 in score of pieces of suburban prop
erty, both lands and lots, and they are far from
$4,000 by the side of the first. for
they have $7,O00.000 at their command,
and the nerve to go in on their judgment.
One of the largest deals day was the sale of
the Hooper block, oneauarter OF a square. on
Main street, opposite the postofice. for $40. 0Q0
The block contained five twostory brick bust
ness rooms, one large brick dwelling, large
brick livery stable and frame dwelling. The
price is considered reasonable The Mann forty
acre tract a half mile north of the junction, sold
for the handsome price of 500, 900. The land
was purchased two months ago by Mr.. Mann for
$4,000 That was before gas was found at the
junction. The abstract are worked to
death, and every lawyer in town has been called
in to assist in running titles.